Principal Financial Group Inc. Has $58.93 Million Holdings in ONEOK, Inc. $OKE

Principal Financial Group Inc. raised its holdings in ONEOK, Inc. (NYSE:OKE) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 801,771 shares of the utilities provider’s stock after buying an additional 25,318 shares during the period. Principal Financial Group Inc.’s holdings in ONEOK were worth $58,930,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Varma Mutual Pension Insurance Co lifted its holdings in shares of ONEOK by 8.4% during the fourth quarter. Varma Mutual Pension Insurance Co now owns 181,662 shares of the utilities provider’s stock worth $13,352,000 after buying an additional 14,100 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in ONEOK by 6.0% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 12,004 shares of the utilities provider’s stock worth $882,000 after acquiring an additional 684 shares during the period. Intact Investment Management Inc. raised its stake in ONEOK by 56.3% in the 4th quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider’s stock worth $5,917,000 after purchasing an additional 29,000 shares in the last quarter. CENTRAL TRUST Co raised its stake in ONEOK by 1.2% in the 4th quarter. CENTRAL TRUST Co now owns 13,271 shares of the utilities provider’s stock worth $975,000 after purchasing an additional 158 shares in the last quarter. Finally, Capital Management Corp VA boosted its holdings in ONEOK by 6.6% in the 4th quarter. Capital Management Corp VA now owns 243,992 shares of the utilities provider’s stock valued at $17,933,000 after purchasing an additional 15,110 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 0.4%

NYSE OKE opened at $85.97 on Friday. The company has a market cap of $54.16 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $95.30. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The business’s fifty day moving average is $87.19 and its 200 day moving average is $78.82.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.9 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Analyst Ratings Changes

Several research analysts have recently commented on OKE shares. UBS Group lowered their target price on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Monday. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Mizuho set a $89.00 price objective on ONEOK in a research note on Monday, February 23rd. Finally, Citigroup upped their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $91.31.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.